MV Agusta has shortlisted five potential buyers, according to a report
in Il Sol 24 Ore, an Italian newspaper. Included on that list are
current MV Chairman Claudio Castiglioni and former Ducati CEO Federico
Minoli, the other three inclusions are unnamed private equity firms.
Castiglioni's bid is being backed by Intessa Sanpaolo, a major Italian
banking group, while Minoli is said to have the support of a private
equity fund. >
Harley-Davidson paid $109 million for MV in July, 2008, a figure which included $70 million necessary to erase the company's debt. Since then, it's invested in retooling for the Varese factory and launched two all-new models, the 2010 MV Agusta F4 and the 2010 MV Agusta Brutale. On October 15, 2009, beleaguered by financial difficulties caused by its own irresponsible lending practices and failure to adapt to a changing market, Harley announced it would be selling MV and scrapping Buell. Despite clearing MV's debts, paying for the new models and investing in the new tooling, Harley has been frustrated in its efforts to sell the company. MV turned over €34 million during 2009, reporting a €20 million before-tax loss.
In other news, it will shortly be announced that the 2010 MV Agusta F4 will retail for $18,500 in the US, a very competitive price that makes it $2,499 cheaper than the Aprilia RSV4 Factory and $3,295 cheaper than the Ducati 1198 S.
Source: Il Sol 24 Ore
Thanks for the tip, Will.